Crown Castle International Corp. disclosed second-quarter adjusted funds from operations of $741.0 million, or $1.71 per share, a 17.9% increase on a per-share basis from $609.0 million, or $1.45 per share, in the 2020 second quarter.
FFO for the quarter rose 25.2% from the year-ago period on a per-share basis to $734.0 million, or $1.69 per share, from $564.0 million, or $1.35 per share.
The S&P Capital IQ consensus FFO estimate for the quarter was $1.63 per share.
For the quarter, site rental revenues came to $1.43 billion, an 8.0% rise from $1.32 billion in the year-ago period.
The company expects AFFO per share in the range of $6.78 to $6.89 for the full year, compared with previous guidance in the range of $6.74 to $6.85. The company also expects FFO for the full year at between $6.27 and $6.37 per share. The company previously offered guidance in the range of $6.21 to $6.31 per share.
For the full year, the S&P Capital IQ consensus AFFO-per-share estimate is $6.82, while analysts expect FFO per share for the full year at $6.24.
